Let's be clear. This financial crisis was created because the liberals (and Bush) liked the idea of the poor being able to buy houses, and Wall Street figured out a way to profit of the idiocity of the whole concept until the whole ponzi scheme went bust.
Saturday, September 20, 2008
I think there will be an inevitable push against deregulation, but deregulation wasn't the problem. The problem was the expectation that the government would be there to bailout the companies, since they were the ones pushing for an "ownership society" anyway. Well it looks like they were right...
I blame HGTV and their endless run of "house flipping" shows. In a few years we went from a country where the middle class was happy to have 3 bedrooms to a country where they were putting in granite counters in the ghettos.